SCN-6 “CbC REPORTING”Atul Khurana
Welcome to the SCN Series.
Today’s term is from International Taxation part of the Income Tax:
In order to prevent tax avoidance, Multinational Enterprises (MNEs) whose consolidated revenue of International Group is more than Rs. 5,500 crores (as reflected in the consolidated financial statements for the preceding accounting year) are required to report to the income tax department annually for each tax jurisdiction (each country) in which they do business the information set out therein.
This reporting is called the Country-by-Country (CbC) Reporting.
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